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Offer at a glance
- Maximum bonus amount: $100
- Availability: In branch only, all branches are in NY [Branch locations]
- Direct deposit required: None
- Additional requirements: Unknown
- Hard/soft pull: Unknown
- ChexSystems: Unknown
- Credit card funding: Unknown
- Monthly fees: None
- Early account termination fee: Unknown
- Household limit: None listed
- Expiration date: May 31st, 2019
Contents
The Offer
- TEG Federal Credit Union is offering a bonus of $100 when you open a new checking account and complete the following requirements:
- None listed
The Fine Print
- All bank account bonuses are treated as income/interest and as such you have to pay taxes on them
Avoiding Fees
Monthly Fees
They offer a free checking account with no monthly fees to worry about
Early Account Termination Fee
I wasn’t able to find a fee schedule so I’m unsure if there is any early account termination fee.
Our Verdict
They don’t really provide many details about the bonus itself, so I’d ask for more information in branch if you’re thinking about going for this offer. You should also be able to ask if it’s a hard or soft pull to open as well.
Hat tip to reader John C
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- PSA: Don’t Call The Bank
- Introduction To ChexSystems
- Banks & Credit Unions That Are ChexSystems Inquiry Sensitive
- What Banks & Credit Unions Do/Don’t Pull ChexSystems?
- How To Use Our Direct Deposit Page For Bank Bonuses Page
- Common Bank Bonus Misconceptions + Why You Should Give Them A Go
- How Many Bank Accounts Can I Safely Open Within A Year For Bank Bonus Purposes?
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- Complete List Of Ways To Close Bank Accounts At Each Bank
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- Bank Bonus Posting Times
Sounds like you actually have to call them to get the bonus after DD is deposited.
Looks like there is a DD requirement:
*When opening a checking account with direct deposit and debit card. Offer only valid on accounts opened by new members without a TEG checking account with minimum direct deposit of $400 or whole paycheck if less than $400. Member must notify credit union when direct deposit has been added (within 45 days of account opening). $100 checking bonus will be credited to the member’s account after direct deposit has been confirmed as long as the account is in good standing. Funds are considered interest income and may be reported as such on IRS Form 1099-INT.
There’s a form there to inquire about offer so I’m going to fill it out. I am a NY resident.
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